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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
 The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ship owners could soon be coming to an end, according to market analysts. Yesterday, the BDI ended down by 40 points to 3,882, with the Capesize segment registering heavy losses, which brought the Baltic Capesize Index (BDI), once again almost on par with the smalle panamax market (4,513 points versus 4,504 points).
During the course of the previous week, Chinese ore and Asian coal demand remained particularly firm, thus pushing capesize rates up by 14% week-on-week. In the first two weeks of May, capesize rates rose by a rather impressive 29% or $11,320. Still, according to the latest weekly report by Commodore Research & Consultancy, "freight rates for all vessels may be poised to decrease moderately in the near-term, as dry bulk commodity prices have fallen across the board and Chinese stockpiles have increased.
Overall dry bulk cargo demand is still expected to remain robust during the summer, however, and the market will likely only experience a brief lull in spot chartering activity. 20 vessels were reportedly fixed to carry iron ore last week, 7 less than the previous week. After a brief lull in spot chartering activity, we expect cargo demand to rebound due to Northern Hemisphere peak summer coal demand and an increase in Chinese corn and soybean imports. We also expect Chinese steel production to remain firm throughout the summer" said the report.
It mentions that capesize rates may be poised to full further this week, as spot iron ore and Chinese steel prices begin to show weakness. "In addition, stockpiles of iron ore and thermal coal in China have begun to increase, which might put additional pressure on the entire dry bulk market in the near-term. Thermal coal demand in China and throughout much of Asia is expected to remain robust, however, as the Northern Hemisphere summer peak demand season results in greater electricity consumption. Asian and European steel production is also expected to maintain healthy levels, as the global economy continues to emerge from recession.
Only a brief lull in spot chartering activity is expected, and dry bulk commodity demand is expected to return to robust levels within a few weeks.
In the upcoming weeks, dry bulk freight rates will likely come under pressure due to the decline in dry bulk commodity prices coinciding with growing iron ore and thermal coal stockpiles.
After a temporary lull in spot chartering activity, dry bulk demand and freight rates will likely find renewed support due to various developments (including an expected surge in long-haul Chinese corn and soybean imports and steady Chinese coastal freight rates) which are discussed in the remainder of this report. Firm period chartering activity also suggests that the market expects dry bulk cargo demand to increase in a few weeks Dry bulk freight rates increased across the board last week - but spot chartering activity was relatively low and freight rates were moderately supported by robust levels of period chartering activity" Commodore said.
Chinese iron ore port stockpiles now total about 69.61 million tons, 1.26mt (2%) more than the previous week. Stockpiles have now increased for five consecutive weeks and are approaching this year's peak of 71.17mt, which was reached in early March.
At the same time, Indian iron ore fixtues decreased noticeably last week, continuing the trend of sporadic Indian ore fixture activity - resulting from the Indian government continuing to investigate and restrict illegal mining and railing of ore from Orissa.
The same amount of Brazilian and Australian iron ore fixtures were reported in market compared with the previous week. Going forward, Chinese iron ore demand might decline in the immediate shortterm due to rising ore stockpiles and declining steel prices.
After a possible brief pause in steady iron ore imports, Chinese demand is expected to return to firm levels. Indian ore fixtures will likely stay at low levels beginning in June when India's monsoon season begins. At that time, most of China's ore will come from Brazil and Australia, concluded the analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
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